Wealth of Nations Archives

“The Invisible Hand of the Market.” Lizza Littlewort

Economic Schools of Thought / Macroeconomics

April 18, 2018

Classical Economics: Praising the free market

“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who has acquired it, and who wants to dispose of it or exchange it for something else,...

A watercolour portrait of the economist Adam Smith 1723 -1790. http://www.wilfreeborn.co.uk/?p=3532

Economists

February 11, 2018

Adam Smith

Adam Smith, highly regarded as the father of economics, was born in 1723 in Scotland. He is best known for his masterpiece which he published in 1776, “An Inquiry into the Nature and Causes of the Wealth of Nations”. At his time, mercantilism was the dominant economic policy in Europe....

Tagged: Wealth of Nations

Classical Economics: Praising the free market

Adam Smith